Waiting for decline to 1.5327 | 28 August 2015

28 August 2015, GBP/USD

The daily chart: Now, swing down has been formed, but in the background of once punched four levels, it makes sense for bears to modify a strong support area at 1.5327 as well. There we can seriously expect formation of a new ascending swing.

Waiting for decline to 1.5327

H1 chart: a good pivot & quot; has cut & quot; a local upward swing, so bears can act immediately. Confirmation will be breakdown of support 1.5368.

Waiting for decline to 1.5327

Scenarious: So, we wait for breakdown of 1.5368 and decline to 1.5327, from where, with a high probability, the price will bounce.

Solutions: 1) We sell to 1.5330. 2) We buy from 1.5330

Aleksey Panasenko
FreshForex Analyst
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